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Lula travels to India with ambitious economic plans
Published in Saudi Press Agency on 28 - 05 - 2007


Brazilian President Luiz Inacio Lula da Silva is
scheduled to travel to India later this week, with the ambitious
objectives of quadrupling bilateral trade and boosting the
strategic association that both nations agreed on three years ago, according to dpa.
"We need to consolidate this process of strategic association with
India to exploit our reciprocal competences," Roberto Jaguaribe -
under-secretary general of political affairs at the Brazilian Foreign
Ministry - told the agency Estado in an interview published Monday.
The diplomat added that, unlike China, India is "a real
democracy," does not compete directly with Brazilian producers and
has always had an "an active association in international
trade" with Brazil.
"It's inevitable for Brazil to have a special relationship with
India," Jaguaribe said.
The two countries form a key alliance in the group of developing
countries pushing for industrial countries to cut off subsidies to
their farmers and other trade overtures within the World Trade
Organization talks.
Lula is set to arrive in New Delhi on June 3. He will be
accompanied by a group of business leaders from the powerful
Brazilian National Confederation of Industry (CNI), in search of
opportunities to take part in India's plan to invest 350 billion
dollars to improve its infrastructure.
Brazilian businesses intend to get involved in deals with India in
the fields of IT and biofuels, while the government in Brasilia
intends to stimulate bilateral trade to push it up to 10 billion
dollars a year by 2010, from the current 2.41 billion dollars a year
with a surplus of 537.3 million in favour of India.
To boost bilateral trade, Brazil intends to achieve an expansion
of the 2005 trade preference agreement between India and South
American trade bloc Mercosur, of which Brazil is the natural leader.
The deal allowed bilateral trade to jump from 1.207 billion dollars
in 2004 to 2.410 billion dollars in 2006.
Relations between Brazil and India have become closer in recent
years, after both came to lead agricultural nations gathered in the
G20 in their demand for an end to the agricultural subsidies that
industrialized nations grant their own producers.
On June 4, Lula is set to open the first Brazil-India Business
Forum, a permanent organism in which 15 companies from each country
will be represented. The forum is intended to evaluate business
opportunities and chances for bilateral investment.
On June 5, Lula will close the business seminar - being called A
New Frontier for Business Opportunities. Some 50 Brazilian firms
seeking to join India's efforts to improve infrastructure - including
the country's largest construction companies - are set to take part
in the seminar.
The Brazilian president's visit to India is part of a lengthy
international tour which Lula will start on Friday in London, where
he is set to attend a football game between England and Brazil which
will inaugurate the new Wembley Stadium.
From India, Lula is to travel on to Morocco for a two-day official
visit, before going to Germany to take part in the G8 summit at
Heiligendamm as a guest.


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